AppFolio, Inc. $APPF Shares Purchased by Riverbridge Partners LLC

Riverbridge Partners LLC lifted its holdings in AppFolio, Inc. (NASDAQ:APPF) by 7.0% in the third quarter, HoldingsChannel reports. The firm owned 54,386 shares of the software maker’s stock after purchasing an additional 3,549 shares during the quarter. Riverbridge Partners LLC’s holdings in AppFolio were worth $10,906,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Optiver Holding B.V. raised its stake in AppFolio by 827.8% during the first quarter. Optiver Holding B.V. now owns 167 shares of the software maker’s stock valued at $26,000 after purchasing an additional 149 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in AppFolio during the second quarter valued at $36,000. Hilton Head Capital Partners LLC purchased a new position in shares of AppFolio in the 3rd quarter worth $40,000. Versant Capital Management Inc grew its stake in shares of AppFolio by 169.0% in the 2nd quarter. Versant Capital Management Inc now owns 452 shares of the software maker’s stock worth $72,000 after buying an additional 284 shares in the last quarter. Finally, Parallel Advisors LLC grew its stake in shares of AppFolio by 25.1% in the 1st quarter. Parallel Advisors LLC now owns 703 shares of the software maker’s stock worth $111,000 after buying an additional 141 shares in the last quarter. Institutional investors own 85.19% of the company’s stock.

Insider Activity at AppFolio

In related news, major shareholder Maurice Duca sold 7,200 shares of AppFolio stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $203.41, for a total transaction of $1,464,552.00. Following the completion of the transaction, the insider directly owned 11,424 shares of the company’s stock, valued at approximately $2,323,755.84. The trade was a 38.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 66,743 shares of company stock worth $14,070,831. 1.57% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Keefe, Bruyette & Woods boosted their target price on shares of AppFolio from $233.00 to $255.00 and gave the stock an “outperform” rating in a report on Wednesday, October 21st. Zacks Research downgraded shares of AppFolio from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 23rd. UBS Group lifted their price target on AppFolio from $220.00 to $240.00 and gave the stock a “neutral” rating in a research report on Friday, October 23rd. DA Davidson lifted their price target on AppFolio from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, October 23rd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of AppFolio in a research note on Wednesday, November 4th. Nine equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $250.00.

AppFolio Stock Down 2.1%

NASDAQ APPF opened at $224.76 on Wednesday. The company has a fifty day moving average of $212.29 and a two-hundred day moving average of $184.27. The firm has a market capitalization of $7.97 billion, a price-to-earnings ratio of 47.42 and a beta of 0.86. AppFolio, Inc. has a 52 week low of $142.56 and a 52 week high of $256.86.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings data on Thursday, October 22nd. The software maker reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.79 by $0.03. AppFolio had a net margin of 15.62% and a return on equity of 33.56%. The business had revenue of $295.69 million for the quarter, compared to analysts’ expectations of $294.46 million. During the same quarter in the previous year, the business posted $1.31 earnings per share. The business’s revenue was up 18.5% compared to the same quarter last year. Equities research analysts anticipate that AppFolio, Inc. will post 5.18 EPS for the current year.

About AppFolio

AppFolio, Inc. provides cloud-based software for the real estate industry. Its products help property managers handle day-to-day operations, including accounting, leasing, marketing, maintenance, and communication with residents and owners. The company also offers software for real estate investment managers, supporting investor relations and investment operations. Its offerings include the AppFolio Property Manager platform, with solutions designed for businesses of different sizes and operating needs.